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Has the bull run its course?

Summary by ROGER MONTGOMERY
It’s been a record run for stocks. The past two years delivered historic returns for global and U.S. stocks. Indeed, the 24- months ending 31 December 2024 ranks as one of the top 10 two-year periods since the middle of last century. And notably the gains came hot on the heels of the post-COVID19 2020 and 2021 gains which also ranked among the top 10 in the 24-month periods. Figure 1. Top 10 performance (S&P500 and MSCI ACWI) Source: Polen Capit…
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ROGER MONTGOMERYROGER MONTGOMERY

Has the bull run its course?

It’s been a record run for stocks. The past two years delivered historic returns for global and U.S. stocks. Indeed, the 24- months ending 31 December 2024 ranks as one of the top 10 two-year periods since the middle of last century. And notably the gains came hot on the heels of the post-COVID19 2020 and 2021 gains which also ranked among the top 10 in the 24-month periods. Figure 1. Top 10 performance (S&P500 and MSCI ACWI) Source: Polen Capit…

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ROGER MONTGOMERY broke the news in on Monday, March 17, 2025.
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